TFC Financial Management Inc. Purchases 123 Shares of Tesla, Inc. (NASDAQ:TSLA)

TFC Financial Management Inc. boosted its position in Tesla, Inc. (NASDAQ:TSLA) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,932 shares of the electric vehicle producer’s stock after purchasing an additional 123 shares during the quarter. Tesla comprises about 0.6% of TFC Financial Management Inc.’s portfolio, making the stock its 18th biggest holding. TFC Financial Management Inc.’s holdings in Tesla were worth $3,607,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. World Investment Advisors LLC boosted its stake in Tesla by 1,248.9% in the 3rd quarter. World Investment Advisors LLC now owns 199,229 shares of the electric vehicle producer’s stock valued at $52,124,000 after purchasing an additional 184,459 shares during the period. Destination Wealth Management lifted its position in shares of Tesla by 12.1% during the 3rd quarter. Destination Wealth Management now owns 12,597 shares of the electric vehicle producer’s stock valued at $3,296,000 after acquiring an additional 1,359 shares during the period. Vinva Investment Management Ltd lifted its position in shares of Tesla by 59.2% during the 3rd quarter. Vinva Investment Management Ltd now owns 117,457 shares of the electric vehicle producer’s stock valued at $30,593,000 after acquiring an additional 43,685 shares during the period. Stephens Consulting LLC lifted its position in shares of Tesla by 126.7% during the 4th quarter. Stephens Consulting LLC now owns 1,594 shares of the electric vehicle producer’s stock valued at $644,000 after acquiring an additional 891 shares during the period. Finally, MML Investors Services LLC lifted its position in shares of Tesla by 3.3% during the 3rd quarter. MML Investors Services LLC now owns 309,382 shares of the electric vehicle producer’s stock valued at $80,944,000 after acquiring an additional 9,919 shares during the period. 66.20% of the stock is currently owned by institutional investors.

Tesla Price Performance

Shares of TSLA opened at $355.84 on Monday. The company has a market capitalization of $1.14 trillion, a price-to-earnings ratio of 174.43, a price-to-earnings-growth ratio of 6.22 and a beta of 2.34. The business has a 50-day moving average of $406.31 and a 200-day moving average of $308.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.02 and a quick ratio of 1.61. Tesla, Inc. has a 1 year low of $138.80 and a 1 year high of $488.54.

Tesla (NASDAQ:TSLA) last issued its earnings results on Wednesday, January 29th. The electric vehicle producer reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.08). Tesla had a return on equity of 10.31% and a net margin of 7.26%. As a group, equities research analysts anticipate that Tesla, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other Tesla news, Director Robyn M. Denholm sold 112,390 shares of Tesla stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $354.06, for a total value of $39,792,803.40. Following the completion of the sale, the director now directly owns 85,000 shares in the company, valued at approximately $30,095,100. The trade was a 56.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen Wilson-Thompson sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $352.54, for a total value of $35,254,000.00. Following the completion of the sale, the director now directly owns 5,400 shares of the company’s stock, valued at $1,903,716. This trade represents a 94.88 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 523,386 shares of company stock worth $195,995,200. 20.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TSLA shares. The Goldman Sachs Group upped their target price on Tesla from $250.00 to $345.00 and gave the company a “neutral” rating in a research report on Wednesday, December 11th. Benchmark initiated coverage on Tesla in a research report on Wednesday, February 12th. They set a “buy” rating and a $475.00 target price for the company. Canaccord Genuity Group upped their price objective on Tesla from $298.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. Royal Bank of Canada restated an “outperform” rating and set a $440.00 price objective on shares of Tesla in a research report on Thursday, January 30th. Finally, Robert W. Baird dropped their price objective on Tesla from $480.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. Nine research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Tesla presently has an average rating of “Hold” and an average price target of $326.50.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.